The company has managed to virtually eliminate all manual invoicing operations in favor of a streamlined digital approach.
ArcelorMittal is the world's leading steel and mining company. Guided by a philosophy to produce safe, sustainable steel, it is the leading supplier of quality steel products in all major markets, including automotive, construction, household appliances, and packaging. The company is present in 60 countries, has an industrial footprint in 18 countries, has around 190 000 employees, and shipped 84.5 million tonnes of steel products in 2019.
Automatic validation and verification
invoices sent per year
Multiple ERP integrations
ArcelorMittal wanted to introduce electronic invoicing to optimise its costs and offer a value-added service to its customers across Europe.
ArcelorMittal needed a solution that could support in multiple regulatory environments given they were active in 16 markets across the European region. The solution also needed to accommodate a high volume of invoices and be able to send these via multiple formats as ArcelorMittal migrated its customers towards e-invoicing. To ensure the success of the project, the company decided to work with Basware, a leading provider in Europe of electronic document exchange solutions.
Since implementing Basware’s e-invoicing solution, ArcelorMittal Flat Carbon Europe (FCE) customers can choose to receive their digital invoices either between integrated data exchange (Full EDI), interactive data exchange (Web EDI) or PDF via e-mail.
The advantages are most pronounced for Full EDI (Electronic Data Interchange), because an invoice’s data is fully automatically verified and validated in the recipient’s existing back-office system. As the Basware solution can be seamlessly integrated with the majority of ERPs and accounting applications, manual operations can be virtually eliminated, administrative tasks run smoothly, and helping strengthen the customer-supplier relationship.
ArcelorMittal offers other valid solutions for customers who are not ready for Full EDI: they can opt to receive invoices in XML and PDF format in a secure mailbox online. As an alternative solution, an e-mail with an attached PDF can also be sent to the customer.
The main advantages for us are the cost savings, the international legal compliance, and the ease of outsourcing. Electronic invoicing also provides significant financial, operational, and ecological benefits to our customers.
Every month ArcelorMittal sees growth in the number of customers onboarding as well as an increase in electronic invoices. PDF invoices via mail are experiencing particularly high growth. In 2020, the company sent c.2m invoices via Basware from 43 business units. Today it exchanges no less than 150,000 customer invoices a month across Europe.
To grow the number of e-invoices it sends, ArcelorMittal FCE mobilises its own Key Account Managers and calls on the services of Basware. With its proven customer Activation Program, Basware helps ArcelorMittal to quickly set up connections with new trading partners in a structured and qualitative way.